U.S. report urges steps to reduce reliance on foreign critical minerals

 U.S. report urges steps to reduce reliance on foreign critical minerals

WASHINGTON (Reuters) - The U.S. Commerce Department on Tuesday recommended urgent steps to boost domestic production of critical minerals, warning that a halt in Chinese or Russian exports could cause "significant shocks" throughout the U.S. and foreign supply chains.

The report includes 24 recommendations to boost domestic production of minerals that are needed for production of a range of mobile phones and other consumer goods, as well as key weapons systems. It called for closer cooperation with key allies such as Japan, Australia and the European Union.

(Reporting by Valerie Volcovici, David Lawder and Andrea Shalal; Editing by Leslie Adler)

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Updated Date: Jun 05, 2019 03:06:54 IST